NEW DELHI: Aarti Industries Limited (AIL) has appointed Suyog Kalyanji Kotecha as its new Chief Executive Officer. This appointment marks a significant leadership transition at the company, with Kotecha succeeding Rajendra V. Gogri, who will continue as Chairman and Managing Director.
The board’s decision, announced earlier in May, comes as part of Aarti Industries’ strategy to drive growth and innovation. Kotecha, who holds a B.Tech in Chemical Engineering from UDCT, an MS in Chemical Engineering from the Netherlands, and an MBA from ISB, brings extensive experience in the chemical industry to his new role.
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Suyog Kotecha’s recent role at Reliance Industries involved leading Strategy and New Business initiatives for their Petrochemicals business. Prior to this, he was a Partner at McKinsey & Company, where he led the Chemicals Practice and provided strategic advice on performance transformation and growth.
Aarti Industries, a leading Indian manufacturer of specialty chemicals, has seen a recent decline in its consolidated net profit, which dropped by 11.4% to Rs 132 crore in Q4 FY24, compared to Rs 149 crore in the same period last year. However, the company’s revenue from operations increased by 7.07% year-on-year to Rs 1,773 crore in Q4 FY24. The stock ended at Rs 611.5, down by 2.78% on May 30, 2024.
Aarti Industries’ board comprises a diverse group of experienced professionals. Renil R. Gogri, Vice Chairman, manages system developments and IT integration, with a B.Tech from IIT Bombay. Parimal H. Desai, Executive Director, has extensive expertise in chemical project implementation and holds a degree from UDCT, Mumbai. Manoj M. Chheda, also an Executive Director, contributes 37 years of experience in chemical purchase and marketing and is a law graduate from Mumbai University. Independent Directors include P.A. Sethi, with 55 years in banking, and Bhavesh R. Vora, a Chartered Accountant with 24 years in stock broking.
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Lalitkumar Naik brings 25 years of experience in chemicals and building materials, holding degrees from IIT Kanpur and IIM Ahmedabad. Natasha Treasurywala, with over 15 years in corporate law, and Prof. Aniruddha B. Pandit, Vice Chancellor of the Institute of Chemical Technology, add to the board’s expertise. Additionally, Shekhar Khanolkar, with 30 years in global chemical firms, and Belur Krishnamurthy Sethuram, experienced in chemical engineering and business growth, complete the board’s leadership.
AIL’s diverse portfolio includes chemicals used in agrochemicals, polymers, additives, surfactants, pigments, and dyes. The company’s global presence is supported by over 6,000 employees and more than 100 products. Over the past decade, Aarti Industries has evolved from an Indian company into a global player with state-of-the-art manufacturing facilities in India.